Great Panther Secures $25 Million in New Credit Facilities
TSX: | NYSE American: , /PRNewswire/ - Great Panther Mining Limited (TSX: GPR) (NYSE-A: GPL) ("Great Panther" or the "Company"), a growing gold and silver producer focused on the Americas, announces that it has entered into a gold doré prepayment agreement (the "Doré Agreement") with Asahi Refining Canada Ltd. ("Asahi"), a wholly owned subsidiary of Asahi Holdings, Inc., as well as a lead concentrate prepayment agreement (the "Concentrate Agreement") with Samsung C&T U.K. Ltd. ("Samsung"), a wholly owned subsidiary of Samsung C&T Corporation."The new credit facilities contribute an additional in working capital funding, providing us with increased financial strength and flexibility to execute on our objectives of replacing resources, extending mine life, and unlocking the regional potential of the Tucano Gold Mine," stated , Great Panther's Chief Financial Officer. "We thank our lenders for their continued support and endorsement of the long-term potential of our assets." , President and CEO of Great Panther, added: "We have long-standing and highly valued relationships with both Asahi and Samsung and these transactions further solidify those partnerships. Our goal is to grow the Company with the objective of safely, sustainably and profitably producing gold and silver for the benefit of all our stakeholders. This year has not been without its challenges; however, we remain committed to generating shared value through our operations and these new funding facilities are a testament to our lenders' support of and belief in this mission."
Great Panther Reports Second Quarter 2021 Financial Results
TSX: | NYSE American: , /PRNewswire/ - Great Panther Mining Limited (TSX: GPR) (NYSE-A: GPL) ("Great Panther" or the "Company"), a growing diversified gold and silver producer focused on the Americas, announces unaudited consolidated financial results for the three months ended , from its three wholly-owned mines: Tucano in , and and the Guanajuato Mine Complex ("the GMC") in . "The temporary suspension of mining at Tucano's Urucum Central South pit resulted in lower gold production and higher costs in the second quarter of 2021. We are pleased to have safely recommenced mining at depth in UCS early in July, ahead of our original plan," stated , Great Panther's President & CEO. "While this is a positive development, we will continue to have significant additional waste removal in Q3 related to UCS pushback activity. We have also revised our production guidance downward to account for lower than expected production in Q2 and uncertainty around production from our GMC complex in given the lack of progress on permits. The higher costs combined with lower production have caused us to further revise our cost guidance upward for 2021.""Looking forward, we are excited by the positive exploration results we have seen in our Tap C pit and the recent promising results from the Urucum North deposit at Tucano," continued Mr. Henderson. "We believe the investments we have made in Urucum Central South as well as in our exploration programs will allow us to grow our production for the balance of 2021 and beyond."
Great Panther Announces High-Grade Intercepts from Tucano's Urucum North Deposit
TSX: | NYSE American: , /PRNewswire/ - Great Panther Mining Limited (TSX: GPR) (NYSE-A: GPL) ("Great Panther" or the "Company"), a growing gold and silver producer focused on the Americas, announces drill results for the Urucum North ("URN") deposit located at its wholly-owned Tucano mine in . , Great Panther's President & CEO commented: "We are very excited with the exploration results we are seeing from Tucano, which demonstrate the potential for additional near-term gold production. The high grades discovered at Urucum North are encouraging, and we are expediting studies to support a decision to initiate underground production to supplement the open pit feed to the mill. Drilling also identified shallow high-grade mineralization, which we believe will extend the Urucum North pit." The URN underground project envisions an estimated 40,000 to 50,000 gold ounce ("Au oz") per year underground mine planned to extract ore from below the current URN open pit. In late 2020, Great Panther conducted additional drilling as part of a larger exploration program designed to update development studies to support a decision for the start-up of the underground project. The program is ongoing and significant drilling results to-date are presented below.